Commerzbank: EU Car Data Suggests ‘Solid Demand For Platinum’

Friday June 16, 2017 07:38

Commerzbank says European auto data are supportive for platinum prices. Analysts cite a report from the European Automobile Manufacturers Association showing that 7.6% more new cars were registered in the European Union in May than in the same month last year. “The German auto market in particular was robust,” Commerzbank says. “After five months of the year, new car registrations in the EU are 5.3% up on the same period last year – this points to solid demand for platinum and should thus lend support to the platinum price.”

By Allen Sykora of Kitco News